Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

PROSPECTS

Product variety in spirits expanded further in 2018 in line with the rising incomes of urban consumers and rapid development of modern grocery retailing. Consumers were exposed to a wider choice and increasingly looked for quality and value in products.

Growth of the tourism industry drives the premiumisation trend in the on-trade

Dynamic growth of luxury outlets in Sofia and in Plovdiv, as well as in tourist resorts, stimulated consumption of premium brands in spirits, especially in cognac, whiskies, gin and vodka. In 2018, the Ministry of Tourism shared statistics showing higher value growth from the tourism industry and the outstanding performance of luxury resorts, which fosters consumption in the on-trade through higher-income tourists.

The quest for experience and discovery benefits imported brands

Urban millennials in Bulgaria are the main target group for spirits brand owners in the current and forecast periods. They are highly influenced by social media and exposed to global trends thanks to their wanderlust.

COMPETITIVE LANDSCAPE

Diageo Bulgaria focuses on innovation and new launches

In 2018, Diageo had an extensive focus on innovation and promotion. The innovative Gordon’s Pink in English gin was among the most innovative and successful new launches in 2018.

Vinprom Peshtera AD continues to record growing sales

Local producer Vinprom Peshtera AD demonstrated a stable performance thanks to strong marketing and promotional activity. Its economy brand Black Ram in other whiskies benefitted from increased preference for international alcoholic beverages like whiskies among all age groups – including the young adult generation.

Craft spirits brand owners expanding in rakija

In line with global trends, there was also a growing interest in craft products, especially in rakija, in Bulgaria. Urban consumers lack the time, infrastructure and skills to produce their own home-made rakija.

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